With identity theft on the rise, consumers are actively seeking ways to protect themselves. A crop of companies has sprung up offering identity theft protection services. But how well do they really work?

LifeLock's misleading claims about its ineffective identity-theft protection services attracted a Federal Trade Commission lawsuit, which the company settled for $12 million. Now comes even stronger proof its services are worthless: LifeLock's own CEO has had his identity stolen -- multiple times.